The price for bitcoin jumped past the $10,000 mark again this morning after the Chicago Mercantile Exchange (CME) announced it would begin trading bitcoin futures on December 18. At 14:38 UTC, the price for a single bitcoin was $10,581.10, up 6.17% in the last 24 hours.

Bitcoin futures will pave the way for institutional investors to trade in the new asset class. Their entry is also expected to stabilize the cryptocurrency’s wild price swings, which have led commentators to term its skyrocketing prices "a bubble." (See also: 5 Ways To Short Bitcoin.)

Previously, the price for a single bitcoin had dipped to a low of $9,421.46 at 07:00 UTC. Trading volume for the cryptocurrency declined from almost $10 billion yesterday to $7.6 billion today. (See also: Bitcoin Price Crashes; Other Cryptocurrencies Follow Suit). 

All other cryptocurrencies were up along with bitcoin, based on data from Coinmarketcap.com. The overall market capitalization for cryptocurrencies reached a high of $320.7 billion (up from $294 billion yesterday) at 13:47 UTC before paring back some of its gains. At 15:07 UTC, the cryptocurrency market was valued at $316.8 billion.

Among the top 10 most-traded cryptocurrencies, Ethereum Classic registered the biggest gains, rising by more than 25% to $29.77. Two days ago, the cryptocurrency rose by more than 50 percent to price levels above $30, on the back of news that it will implement a hard fork on Dec 12. The fork will set in place a new “monetary policy,” which includes decreasing rewards for ethereum classic blocks and capping its token supply to 230 million tokens. 

In the meanwhile, the Bank of France became the latest government agency to weigh in on bitcoin’s prospects. Its governor, Francois Villeroy de Galhau, called bitcoin a “speculative asset.” “Its value and extreme volatility have no economic basis and they are nobody’s responsibility,” he said.

Accounting firm PwC announced that it had accepted its first bitcoin payment. The payment occurred in PwC’s Hong Kong office, which works with numerous startups and technology companies. Raymond Chao, chairman of PwC Asia-Pacific, said this is an indication that bitcoin and other established cryptocurrencies have now developed into more broadly accepted forms of payment.

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